EMI Publishing Sold To Sony, Recorded Music To UMG

EMI Publishing Sold To Sony, Recorded Music To UMG

EMI Publishing Sold To Sony, Recorded Music To UMG
Following an earlier report regarding bids to purchase EMI Music, Citigroup announced the company's recorded music division has been sold to Vivendi's Universal Music Group for $1.9 billion, and Sony/ATV Music Publishing has acquired EMI Music Publishing for $2.2 billion, according to a USA Today report. Details on when the transactions will be finalized were not disclosed, and both deals remain subject to approvals by regulatory authorities in the countries and continents involved. (11/11)

Fans Show Interest In Music Discovery
Results from a recent study on music discovery released by market research firm NPD Group and NARM showed more than 80 percent of respondents were interested in discovering new music from artists they were already fans of, while 60 percent showed interest in discovering music from unfamiliar artists in genres they like. Additionally, brick-and-mortar stores have become less of a factor in music discovery while social networks have increased in prominence, and the two most common sources for music discovery are broadcast radio and word-of-mouth, as well as online radio and videos for Internet-based discovery. The study also revealed that while consumer interest in music discovery continues, converting discoveries into sales continues to be a challenge. (11/11)

U2 Emerge Top Winners At Billboard Touring Awards
GRAMMY winners U2 were the top winners at the 2011 Billboard Touring Awards on Nov. 10 in New York, garnering awards for Top Tour and Top Draw for their two-year 360˚ Tour. Additional artists garnering awards were Kenny Chesney, Jason Aldean and Taylor Swift, and the Top Festival honor went to the Coachella Valley Music and Arts Festival. Journey received the Legend of Live honor and Bon Jovi was recognized with the Eventful Fans' Choice Award. In related awards news, GRAMMY winner Adele was among the winners at the inaugural AIM Independent Music Awards on Nov. 10 in London, garnering awards for Best "Difficult" Second Album for 21 and the PPL Award for Most Played Independent Act. (11/11)

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